L3Harris Technologies (NYSE:LHX) Shares Gap Up – Time to Buy?

L3Harris Technologies Inc (NYSE:LHX)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $309.76, but opened at $332.93. L3Harris Technologies shares last traded at $334.0870, with a volume of 822,116 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BNP Paribas Exane started coverage on shares of L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. BNP Paribas raised L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research report on Friday, October 31st. Finally, Truist Financial raised their price target on L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $302.29.

L3Harris Technologies Stock Performance

The stock’s 50-day moving average price is $290.29 and its 200-day moving average price is $281.53. The company has a market capitalization of $62.86 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 2.04 and a beta of 0.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.95 and a current ratio of 1.14.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.34 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s payout ratio is 51.56%.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LHX. Nova Wealth Management Inc. acquired a new position in L3Harris Technologies in the 1st quarter valued at $26,000. Kiker Wealth Management LLC increased its stake in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares during the last quarter. Caitlin John LLC purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth about $28,000. JPL Wealth Management LLC acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $29,000. Finally, Triumph Capital Management purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.